Momet Abas's Exclusive Interview

1. How can Intellectual Property Strategies help brand in terms of creating a differentiated brand identity?
The value of intellectual property as a company asset is a crucial part of brand management. The global level of counterfeited products and piracy is causing massive losses for brands. Together with marketing actions and brand management, intellectual property rights should be seen as an investment in maintaining a company’s competitive advantage. The high level of competition drives companies to develop, upgrade and protect their brands in order to maintain their competitive advantage. As a conclusion, it can be stated that effective brand management starts with brand protection. Brand protection creates a differentiated brand identity.
2. What are your biggest challenges in managing IP of your company?
1. Protecting and exploiting the value of data: There is increasing value held in the large volumes of data being accumulated within companies. Such data presents an IP risk in terms of potential breaches of cyber security.
2. Moving to portfolio-based IP: It is vital to understand the power of IP portfolios. Successful companies will be those that understand how to develop large and strategically driven IP portfolios covering multiple relevant technologies.
3. ‘In-licensing’ and ‘out-licensing’: needs and opportunities: Given the complex and fragmented patent landscape of the digital economy (with IP ownership distributed across many firms), it will be difficult for companies to own all the IP necessary for manufacturing intelligent devices or software. As a result, companies will need to consider how best to acquire usage rights from IP owners.
3. What intellectual property resources or activities have you used in this Pandemic for your company?
In light of the pandemic situation we are living, most of the companies face revenue losses, and it is crucial to be able to rely on “Plan B” strategies to keep business going and clients satisfied. After protecting the core business by the right IPRs, an additional critical factor is to prevent others from free-riding on one’s innovations. IP is a valuable intangible asset that becomes even more relevant in challenging times and beyond. While some industries like ours were not seriously affected, others are still profoundly impacted and probably have to face a more extended period of economic depression
4. What in your view is more important; IP Awareness or IP Protection?
Awareness versus understanding and protecting IP are not the same thing. We can be aware of something and not really understand how to protect it. We can be aware there are such things as patents, trademarks and copyrights and perhaps have a sense of what they are, but not really understand them or how they achieve their intended purpose. So in my view we first need to be aware and understand so we can better protect IP.
5. What factors do you believe will shape the future of Intellectual Property Across the Globe?
Countries with robust IP rights and protections must recognize that new energy, new tactics, and a new strategy are needed to encourage other nations to contribute more and detract less from global innovation. To maximize global innovation, the international community needs to forge a stronger and more wide-ranging consensus on the importance of IP to every country—developed and developing alike. Creative destruction is accelerating as S&P 500 lifespans continue to shrink, requiring new strategies for navigating disruption. What will the survivors have in common? The ability to focus on the right innovations and get them to market faster and more efficiently.
6. What is your company’s vision for 2021 and beyond in this COVID19 situation?
2021 will be the year of transition. Barring any unexpected catastrophes, individuals, businesses, and society can start to look forward to shaping their futures rather than just grinding through the present. During the COVID-19 crisis, one area that has seen tremendous growth is digitization, meaning everything from online customer service to remote working to supply-chain reinvention to the use of artificial intelligence (AI) and machine learning to improve operations. Healthcare, too, has changed substantially, with telehealth and biopharma coming into their own.

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